PORT UNION, N.L. — The Municipality of Trinity Bay North will now be able to officially gain possession of the former Ocean Choice International property in Port Union.

In a press release issued by TBN Monday evening, its states the Department of Municipal Affairs and Environment, with its Minister Eddie Joyce, has approved their request “to acquire and hold real property, specifically, the majority of the Ocean Choice International (OCI) property.”

In August of last year, TBN announced OCI agreed to transfer ownership of the majority the plant to the municipality so they could proceed with further economic development for the town.

The plant shut down after damaged sustained during hurricane Igor in 2010 and remained closed since. The closure put about 180 employees out of work.

The release states this approval will allow the municipality to complete the legal transaction with OCI.

They intend to develop an “eco-industrial park” and will schedule meetings with businesses, representatives from the Department of Tourism, Culture, Industry and Innovation, and the Atlantic Canada Opportunities Agency (ACOA), while looking to establish operations at the site.

Further renovation will need to be completed before businesses develop in the area.

TBN thanked Joyce and the Department of Municipal Affairs, Bonavista MHA Neil King, members of the Economic Development Committee, community members, and the Bonavista-Trinity Regional Chamber of Commerce.

However, the Town notes in the release, currently, funding for the project has not been approved.

The Packet will have more information on the former OCI plant in the coming days.